Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Jon Moulton buys big stake in fledgling Liverpool fund firm

Jon Moulton buys big stake in fledgling Liverpool fund firm

Private equity guru Jon Moulton has become a backer of Seneca Investment Managers.

Via his family office, Perscitus Advisers, Moulton has acquired a significant minority interest in the new fund management firm, which was founded in 2010.

Moulton, the founder and managing partner of the private equity firm Better Capital, said: 'Seneca Investment Managers is a firm with a huge amount of upside potential. Under Stuart Eaton’s leadership, I have no doubt that an already successful fund management team will go from strength to strength.

'We have a lot planned for the new company and are backing it to become a major force within UK financial services.'

Stuart Eaton, Seneca's CEO, added: 'For someone of the calibre of Jon Moulton to invest in Seneca Investment Managers suggests that our vision for the company is on the right track.

'Seneca Investment Managers is not simply about offering a more holistic proposition to our existing clients but building a challenger brand in the broader UK fund management sector.'

The news comes less than two months after Seneca Investment Managers said it was acquiring Miton's Liverpool fund business. The deal is still subject to FCA approval.

In February Wealth Manager revealed Seneca had bolstered its ranks with the appointment of David Warnock, co-founder of Aberforth Partners, as chairman.

In an exclusive interview with Wealth Manager shortly after the Miton deal was announced, Eaton outlined an ambitious growth plan for his firm.

Moulton has been investing in turnaround opportunities for more than 30 years, with his career taking off in 1985 when he joined Schroders to set up a venture capital arm for the fund giant.

In January last year, Burford Capital, the litigation financer backed by Neil Woodford, had formed a 'strategic relationship' with Jon Moulton's Manolete. Under the agreement, Burford was to provide co-funding of up to £10 million for Moulton's insolvency litigation investments.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Related Fund Managers

Neil Woodford
Neil Woodford
90/90 in Equity - UK Equity Income (Performance over 3 years) Average Total Return: -3.51%
Citywire TV
Play Citywire Scotland: how wealth managers use new tech

Citywire Scotland: how wealth managers use new tech

We caught up with a few wealth managers at our annual event in Gleneagles to find out what technological innovations they are employing across their businesses.

1 Comment Play CEO Tapes: Buxton to Gilbert - ‘my Glencore quandary’

CEO Tapes: Buxton to Gilbert - ‘my Glencore quandary’

Do not miss the first two minutes of this film as Richard Buxton shares how he has been challenged by a client for owning shares in a certain company.

Play CEO Tapes: the huge opportunities for asset managers

CEO Tapes: the huge opportunities for asset managers

From tech disruption, retirement and poaching, the CEO discuss the opportunities for their businesses in this episode.

Read More
Wealth Manager on Twitter